Ma Weihua: Focusing on Three Key Pillars to Streamline Global Green Capital Flows

At the Global South Financiers Forum 2026, Ma Weihua—former President of China Merchants Bank, member of the UNDP SDG Impact Steering Group, and Chairman of the China Alliance of Social Value Investment (Shenzhen)—emphasized the need to pool the wisdom and resources of the global financial community. He called for precision-driven efforts in three core areas: rules, tools, and channels, to clear bottlenecks and streamline the flow of green capital to the regions and sectors where it is most urgently needed.

The Imperative for Cross-Border Capital Allocation

Ma noted that as global development faces significant headwinds, the green transition has become an urgent priority for all parties. However, the massive funding gap for this transition necessitates the highly efficient allocation of cross-border capital.

Institutions such as the World Economic Forum (WEF) predict that by 2030, global annual climate financing needs will reach $9 trillion. "The global financial market has deeply embraced the value orientation of green development and the 'synergy of social impact and commercial return' (Yi Li Bing Ju). Multilateral platforms, such as the Belt and Road Initiative (BRI) and BRICS cooperation, provide substantial channels for the precise matching of green projects with cross-border capital," Ma stated.

Addressing the "North-South" Structural Imbalance

"Despite the potential, emerging markets and developing countries—which will account for 80% of the world's future energy demand growth—receive less than 15% of green capital inflows," Ma observed. He described the current state of global green capital as a structural imbalance characterized by "abundance in the North and scarcity in the South."

Ma identified three core bottlenecks within Global South countries:

1. Distorted risk pricing due to rating monopolies.

2. "Regulatory barriers" resulting from inconsistent standards.

3. Severe shortages in the supply of adaptive financial instruments.Together, these factors create a dual deficit in both institutional frameworks and practical tools.

A Three-Pillar Solution for the Future

1. Building a Mutual Recognition System for Standards to Dismantle "Regulatory Barriers"Ma emphasized that unified rules are a prerequisite for the smooth flow of cross-border capital. "We must promote the multilateral recognition and alignment of green finance standards, such as carbon accounting methodologies and information disclosure frameworks, to establish a 'universal financial language' for global capital."

He cited the Common Ground Taxonomy (CGT)—led by the International Platform on Sustainable Finance (IPSF) with China as a core contributor—as an excellent model for standard mutual recognition. Additionally, the "Technical Specifications for Enterprise Carbon Rating," initiated by Chinese domestic institutions, helps capital more accurately identify high-quality, low-carbon assets through unified rating standards.

2. Innovating Risk Mitigation Mechanisms to Activate Commercial Capital"Green projects typically have long cycles and high upfront investments. We must design financial instruments that balance risk and return to effectively leverage commercial capital," Ma said. He noted that models like blended finance, carbon-linked loans, and green guarantees have shown immense potential.

For instance, SusallWave, a sustainable digital tech firm, innovated the "Carbon-Proximity Loan" (Lin Tan Dai). Using full-chain digital intelligence tools, it performs rapid carbon accounting and ratings for enterprises, directly linking rating results to interest rates. This initiative has driven a significant year-on-year increase in local green loans.

3. Deepening South-South Cooperation and BRI Green Financing to Widen Pragmatic ChannelsMa called for the systematic establishment of cross-border matching mechanisms between green projects and global capital, advocating for a shift in capital flow toward the Global South. This includes:

• Strengthening international cooperation on green finance infrastructure.

• Proactively sharing practical expertise in green finance market building, carbon market operations, and Fintech applications.

• Assisting Global South countries in refining their local green financial ecosystems.